Global Travel Retail Market was valued US$ XX Bn in 2018 and is expected to reach US$ 155.4 Bn by 2026, at CAGR of XX% during forecast period.
Global Travel Retail Market
The rise in travel & tourism has augmented the demand for apparels, cosmetics, food items, and electronic retail in the travel retail market. Also, the increase in urbanization and changes in lifestyle are expected to propel the growth of the global travel retail market during the forecast period. Additionally, the rise in disposable income among the middle-income groups and improvement in economic conditions majorly drive the growth of the market. Also, factors such as technological advancements further boost the growth of the market as it increases the convenience of accessing transport or booking hotels through online portals.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Rapidly expanding retail and travel and tourism industry along with growing per capital income levels is expected to drive the market growth. Different retail channels such as apparels, cosmetics, food items, and electronic retail are helping in improving the retail experience of the passengers, which is contributing to economic growth. Furthermore, the huge growth in numbers of people travelers across the world, the growing of the middle class population, especially in emerging countries such as China, India, Brazil among others, and brands, retailers, and key transport-sector operators are continuously investing capital in order to maximize the capacity and quality of facilities in travel locations. At the same time, and high cost and unorganized local markets and strict government regulations pertaining to airport retailing hinder the growth of the travel retail market. However, the increase in the number of the millennial population is expected to drive the growth of the market.
Based on channel, airports was the leading segment in 2017 that captured almost three-fifths of overall market share. The segment is expected to reach over USD 91.75 billion by 2026, on account of ease of purchase that allows customers to buy a wide range of premium apparels and designer clothes under one roof.
Regionally, Asia-Pacific dominated the global market in 2017 and accounted for more than two-fifths of the overall revenue. The region is expected to grow at the fastest CAGR of 11.6% through 2026, on account of an exceptional rise in disposable income and rapid development of the tourism industry.The Asia Pacific witnessed an increase in sales of 9% in the past few years. Asia-Pacific is also identified as the fastest growing market during the upcoming years. Regional and global companies have attracted to recent tenders of arrivals duty-free in China, Hong Kong and South Korea. Although regional traffic trends in 2017 remain positive in the Asia Pacific, the year so far has seen pressure on the travel retail business in East Asia surrounded by the suspension of Chinese travel to Korea. On the other hand, across the world there is continued investment in airport and tourism infrastructure, pointing to a bright future ahead.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global travel retail market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global travel retail market.
Scope of Global Travel Retail Market:
Global Travel Retail Market, By Product Type:
• Perfume & Cosmetics
• Wine & Spirit
• Luxury Goods
• Confectionery & Fine Food
Global Travel Retail Market, By Channel:
• Cruise Liner
• Railway Station
• Border, Downtown & Hotel Shop
Global Travel Retail Market, By Region:
• North America
• South America
• Middle East & Africa
Key Players Operated in Market Include:
• DFS Group
• Dufry AG
• LS travel retail
• Lotte Duty Free
• King Power International Group
• The Shilla Duty Free
• China Duty Free Group (CDFG)
• AerRianta International (ARI)
• The Naunace Group.
• DFASS Group
• Gebr. Heinemann SE & Co. KG
• Lagardre Group